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To: elpolvo who wrote (900)	12/8/2000 1:20:24 AM
From: Sully-	Respond to of 104159

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To: elpolvo who wrote (900)	12/8/2000 11:20:51 AM
From: abuelita	Read Replies (2) \| Respond to of 104159

Polvie, pour vous de moi, rosé Here is what some of the most intelligent and wealthiest people on the planet are saying about the prospects for technology and technological innovation going forward. "Technological innovation, and in particular the spread of information technology, has revolutionized the conduct of business over the past decade and resulted in rising rates of productivity growth. Accelerated productivity has been elevating standards of living, and it has been containing cost and price pressures, even as the economy operates at unusually high levels of labor resource utilization... To a considerable degree, then, the current shakeup in some segments of the telecom and other high-tech sectors seems to reflect an inevitable winnowing process as the market begins to draw firmer conclusions about which firms will be able to establish a long-lived market niche and which will not. Of course, these events are not inconsistent with investment in high technology continuing to serve as an engine of strong productivity growth in the years ahead." --Alan Greenspan "I think we're now quite early in the building of the Evernet, this always-on high-speed, broadband, ubiquitous, multiformat Web. The thing is that the new economy hasn't been repealed. Moore's law is proceeding apace; so is Metcalfe's law. And now we have these fantastic improvements in bandwidth because of photonics. And I think the death of B2C is wrong. It's been overdone. Of course there will be consolidation-we don't need a dozen pet food or jewelry companies. This is just a correction." --John Doerr, Partner, Kleiner Perkins "We use periods of disruption like this to go after market share. It's very tough to gain market share when everybody's doing great. It's easier when there's a scramble like now. It's not frustrating. The question is: How do you take advantage of it? Voice, data, and video are all moving into one single IP (Internet Protocol) network. That's our business. Right now reminds me of four years ago when we were bunched together with Bay, Synoptics, Newbridge, and Fore. Twelve to 18 months later we had broken away. That's what we're looking to do now." --John Chambers, CEO, Cisco Systems "You know how we have said that sometime in the future, all companies will become Internet companies? Well, the future is here. The e-business revolution is proceeding faster and deeper and more substantially and strategically than any of us would have anticipated a year or two ago." --Andy Grove, Chairman, Intel Corporation "While there have been and continue to be some excesses in the new economy, there are also very real changes going on in how productivity is created. We have been able to increase our return on invested capital to well over 250%." --Michael Dell, CEO, Dell Computer "The peak of every up cycle exceeds the peak of the previous cycle. The long-term prospects of high tech are strong. You just are not going to be able to survive in business on this planet without it. The application of the network to business productivity on a global basis is just essential. Some sense has come back into the marketplace. Still, we're going to see continued volatility, particularly in the over-the-counter stocks, for a long time. Real-time technologies have created this instant expectation of a quick buck. I don't think that's going to go away. It's going to be extremely difficult for businesses in the future to maintain stable valuation." --Regis McKenna, Silicon Valley marketing guru "We're seeing great paybacks on technology in terms of productivity. I've talked to companies recently, and they all understand it and are making investments to help them control costs, and also to generate revenue. If there's a downturn in capital investment, my guess is it will be in factories and other heavy equipment, as opposed to technology. Our view, even last year, was that the bulk of the impact of the Internet would come from large global companies as they moved to the Internet. Companies are taking some of the innovative, useful things the dot-coms were doing and putting them in place. Some of the things the dot-coms were doing weren't sustainable. But dot-coms were new businesses, and the failure rate for new businesses is about 70%. So there shouldn't have been any surprise that you have new businesses that fail." --Mike Ruettgers, CEO of EMC "I'm actually pretty cheerful about what's happened. This clears out the underbrush, so the stronger firms can grow faster and more freely. Now we'll see the best companies flourish. They'll have better access to resources-better access to good people-and less clutter around to distract them." --Esther Dyson, Editor-in-chief of Release 1.0 "The thing that determines success or failure is your ability to remain dispassionate, to remember the difference between companies and stocks, to recognize as early as possible in your investment process when you've made a mistake so that you can eliminate that from your portfolio and move on. We've just come off the most incredible period investors have ever experienced. I expect there's a price to be paid for that. And yet the volatility we're getting in this market is giving public investors some buying opportunities that we literally haven't seen in years." --Roger McNamee, Integral Capital Partners